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Monday, October 21, 2013

West Texas Crude

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I wasn't going to post tonight but WTIC Lagging line has crossed under the Cloud , also with a cross of the DMI. I marked the Possible Short Term target,although sometimes the Price will go up when the bottom is penetrated to test the bottom of the Cloud before a new retreat ,  this looks like it's got downside momentum.
$Brent looks to be a bit stronger yet,and I drew what I believe the downside target would be.The Price will definitely have to cross $112 for it to be Bullish again, short term the target appears to be $104.50. There is what appears to be a Scallop in the price action, a lot of time scallops come in Threes.










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